If you know me, you know I'm a fan of having multiple bank accounts. In fact, I recommend having AT LEAST seven accounts, though my family has over 20 at this point (true story). Are you hyperventilating yet? Don't! I promise it's not that weird! In fact, my “The 7 Bank Accounts Every Family Should Have” post(s) have broken the internet several times, because apparently, it's super weird for people to think about having lots of accounts. Let me tell you from experience that the more accounts you have, the EASIER it is to manage and organize your money.
One of those 7 accounts everyone MUST have is an HSA account.
No, an HSA is not a virus. It's a legitimate, life-saving (literally, in some cases) TAX-FREE savings account that helps make healthcare more affordable for you and your family!
Seeing as how it's Focus on Finances month, and the fact that January is a huge month for people to be thinking about healthcare and budgeting, I made a quick video to explain HSA's better.
Watch the video online or click and watch below, then keep reading to see how you can win $100 to Target while you're at it!
See, that wasn't so bad right?? It's a simple account, just like all your other savings accounts, but it's TAX FREE so you end up saving your skin in several ways.
So…what if I don't qualify for an HSA?
The reason I say “everyone should have one”, even though not everyone can qualify for an HSA, is because I believe you can do your own! If you don't qualify for a formal HSA, I recommend having a savings account, and setting money aside just for medical expenses. Sure, it's not tax-free like an HSA is. But the concept of setting money aside so a medical bill doesn't eat up your grocery budget is INVALUABLE. A real HSA is top choice, obviously, but second best is a good ol' savings account, just for medical expenses.
As mentioned in the video, here are some helpful links…
- Check out UnitedHealthcare's website HERE
- Take the HSA 101 quiz HERE to learn even more about HSA's.
- Take the Quick Care Quiz HERE, to learn what health care facility you should go to when you have an ailment (No! you should NOT be running to the ER every time you get hurt!)
Remember, UHC is giving away $100 weekly and $500 grand prize winner to people who take those quizzes! They only take a second so it's 150million% worth it.
Now, for my OWN giveaway!
In addition to the $100 and $500 prizes UnitedHealthcare is giving away on their website, I'm giving away $100 to Target here on FCF, just to you Freebs!
Entering is so easy, and you can come back
Who couldn't use an extra $100 schmacks to Target?? *waves arm in air annoyingly vigorously*
And while I'm here – quick reminder that I'm running one of my biggest sales of the year on my Budget Boot Camp online program where I go over the 7 Bank Accounts principle, and many others, in great detail. If you sign up before Sunday Jan 8 at midnight, you not only get the program for $119 instead of $159, but you get 50% off and a FREE spouse ticket to my upcoming BBC'17 conference! So head to BudgetbootCamp.com and sign up today. If I don't save you at LEAST what you paid for the program, I'll refund every dime…so you have nothing to lose.
Best of luck to you all, and have a fabulous weekend!
Thank you to UHC for generously sponsoring this post. As explained in THIS POST, I'm now blogging ONLY for you and me. And HSA video is something that I've been wanting to do for you so it's perfect that UHC was willing to sponsor it to keep this blog going strong!